Should Medicare Run Auctions on Reimbursement Fees?

When there are too many medical specialists in one region, Medicare costs go up — but patient satisfaction, quality of care and convenience remain the same, according to Peter Bach, a pulmonary specialist at Memorial Sloan-Kettering Cancer Center, in an op-ed in the New York Times.

For example, New York City has twice as many specialists per 100,000 residents as Albany in update New York. Medicare spends …

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